Two-wheeler sales witness sharp decrease in November 2021
What's the story
Last few months have been a debacle for the automobile industry. Several companies were forced to make sharp production cuts this year due to the shortage of semiconductors.
Honda Motorcycle and Scooter India, Hero MotoCorp, Bajaj Auto, as well as TVS Motor Company have recorded worrisome sales in November 2021 as compared to the same time last year.
Here are more details.
Context
Why does it matter?
The shortage of semiconductors has been an issue for several months now. The two-wheelers industry in India had sold 14,77,313 units in October 2021 as compared to 19,85,690 units in October 2020, recording a 26% year-on-year drop in sales.
The trend continued to exist even in November and may not improve in the coming months.
Brand #1
Bajaj Auto recorded 12% drop in sales
Bajaj Auto had sold 3,30,000 two-wheelers in November this year as against 3,84,000 units in the same period last year, recording a 12% decline in year-on-year sales.
Out of this figure, 1,44,000 units were sold in the domestic market last month while around 1,93,000 units were sold overseas.
In comparison, the company had sold around 1,88,000 two-wheelers in November 2020.
Brand #2
TVS motorcycles saw a 15% fall in sales
TVS Motor Company has witnessed a 15% year-on-year fall in overall two-wheeler sales with 2,72,693 units sold in November this year as compared to 3,22,709 units in November 2020.
The company's scooters saw a drop in demand from 1,06,196 units in November last year to 75,022 units last month.
However, the exports of the company have increased in November 2021 by 29% year-on-year.
Brand #3
Honda Motorcycle and Scooter India's domestic sales decline by 38%
Honda Motorcycle and Scooter India has sold a total of 2,80,381 units in November this year, including 2,56,170 units in the domestic market and 24,211 units in overseas markets.
Talking about the domestic market, the sales in November 2021 have plummeted by nearly 38% in comparison to 4,12,641 units sold last November. The exports have recorded 18% year-on-year growth.
Brand #4
Hero MotoCorp saw a 41% drop in year-on-year sales
Lastly, Hero MotoCorp has recorded sales of 3,49,393 units in November 2021 as against 5,91,091 units in the same time last year. This translates to a massive loss of nearly 41% in year-on-year sales for the company.
Like some of the other two-wheeler manufacturers, the graph for exports, however, has moved upwards from 15,134 units in November 2020 to 20,531 units in November 2021.